U.S. President Donald Trump returned to the White House promising to put the country's finances on a firmer footing by shrinking the scope of federal government, ending costly foreign wars and boosting economic growth to rein in rising deficits.
Instead, the U.S. national debt has climbed past $40 trillion during the first 19 months of Trump's second term, while federal spending has continued to rise. The six-month-old war with Iran has also become an expensive stalemate, adding to fiscal pressures as borrowing costs increase, Reuters reported.
